(The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March Greg's Bicycle Shop uses a periodic inventory system. Units Cost per Unit $225 Total Cost $ 4,500 Date Transactions March 1 Beginning inventory March 5 Sale ($350 each) March 9 Purchase March 17 Sale ($400 each) March 22 Purchase March 27 Sale ($425 each) March 30 Purchase 245 2,450 255 2,550 275 1,925 $ 11,425 P.20 PUN5 Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. Ending inventory Cost of goods sold